Specialist business property adviser Christie & Co has completed the sale of The Croft residential care home near Newton Abbot in Devon.
The converted former Victorian villa, which is registered for 22 residents, was sold on behalf of previous owner Cheryl Howe to experienced businessmen, Simon Spiller and David Tait, as their first purchase in the care sector.
Simon Harvey, Director at Christie & Co who handled the sale, said: “I am pleased to have worked with Cheryl and helped her with the sale of The Croft so that she could enjoy her retirement. It was a pleasure to have assisted Simon and David in acquiring their first care home and I hope that it is the first of many acquisitions by two very capable new entrants. I am sure that the business will go from strength to strength.
“Care homes are valuable assets to operators, and in their local communities, and it has been a pleasure to facilitate the smooth transaction of the business to ensure the quality and continuity of care for its residents.”
The Croft comprises 19 bedrooms, a mix of single and double with the majority providing en suite facilities, set out across four floors with lift access, plus a residents’ lounge and dining room. Additionally, there is on-site parking and gardens to the front and rear of the property.
The freehold interest of The Croft was sold off an asking price of £995,000.
South West-based Kitsons Solicitors acted on behalf of Ms Howe and Ashfords LLP assisted on behalf of Mr Spiller and Mr Tait.